Generally figure 5-6 months between when the well first goes into production and the first royalty payment. The first royalty payment will be for the first 2-3 months of production.
Watch for the pooling interest hearing for your well on the dmr dockets site https://www.dmr.nd.gov/oilgas/docketindex.asp The royalty payments generally show up in your mailbox 2-3 months after the hearing date On Oct 3, 4:07�pm, Palermo <[EMAIL PROTECTED]> wrote: > Hi, > First many thanks for you taking the time to discuss issues and > sharing with the helping newbie's. > > Some background: > Our family own a farm several miles south of Palermo (homesteaded by > my grand father, purchased by my parents n the 40's) �I take care of > it for my lmother who is late 80's. �We own all the minerals which are > leased it. It was drilled in July, frac'd in Aug. and seems to be in > final the completing stages. �The tanks are in place, rod pump > pumping, elec panel in place, flaring gas, trucks going in and out, I > know many are hauling salt water along with the oil. �I see that it > comes off the confidential list the end of Dec.. �I've been watch this > area on the ND state subscription web site trying to learn all I can, > and naturally excited for the region (I live out of state, but return > as often as I can 2-3 times per year minimum) except for the roads (I > feel the oil company's perhaps might help out a little with the > damage, but that is just MHO) this area deserves this, and I trust it > will help the area. > > My question is we've heard nothing, we do know there is oil, but it > could be 100 Bbls/day to 500, just have no clue, we do not have any > idea about the IP or a clue about the process going forward. �I do > read this blog daily, I assume at some point there will be a division > order required singing. > > May I intrude upon you to explain the process going forward we might > expect? �As you might expect my mother is anxious about things. �Most > all her friends are also in her age group and they do not either > understand or simply get things wrong. �Her only scource is the > "Promoter" ( I love the color in the last issue), and what ever I can > find on the ND web site. > > From friends we were told after the Frac process there was a little > sand issue, they think now has been fixed, other than that we know > nothing and do nor know what to expect. > > Sorry for the wordy thread, but I know do details matter. > > Questions: > When and what should happen going forward, naturally her interest at > her age is the expected date for royalty payments to start as these > would really help her life. > > If this ends up a meaningful producer at what point should the > minerals be moved into a trust or an LLC? �I know there will be a very > complete title exam and was told not to do anything till at least an > IP# was announced, better the first royalty payment. > > I know many of you good people have been through this process, if you > could share some of the timeline, and what to expect I'd appreciate > it. > > Again thanks for all your great group work. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Bakken Shale Discussion" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/bakken-shale-discussion?hl=en -~----------~----~----~----~------~----~------~--~---
